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  • Sudden drop in the British pound vs. dollar sends currency markets reeling; Traders mystified

    From cnbc.com

    The British pound dropped sharply against the U.S. dollar Thursday, as the greenback moved higher against other major currencies. The U.S. dollar index surged higher following the mystery move. Traders could not immediately pinpoint a specific reason for the moves. "Everyone is trying to figure out what was behind the mini flash crash in the pound, but there are no clear answers right now," said Adam Button with ForexLive.com. In afternoon trade, pound sterling suddenly hit an intra

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  • Post #1
  • Quote
  • May 18, 2017 2:20pm May 18, 2017 2:20pm
  •  peekay007
  • | Joined Aug 2016 | Status: Member | 93 Comments
the Market Movers at work here
1
  • Post #2
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  • May 18, 2017 2:21pm May 18, 2017 2:21pm
  •  Drolph
  • Joined Jun 2015 | Status: Member | 57 Comments
These alghoritm induced flash crashes are occuring more and more often - a very ugly development.
1
  • Post #3
  • Quote
  • May 18, 2017 2:30pm May 18, 2017 2:30pm
  •  mrsimon
  • | Joined Mar 2012 | Status: Member | 3 Comments
Guys, there has been nothing on on the GbpUsd for weeks!! Thank god we have some volatility
1
  • Post #4
  • Quote
  • May 18, 2017 2:36pm May 18, 2017 2:36pm
  •  jurek
  • | Joined Aug 2016 | Status: Member | 68 Comments
This is nothing compared to the move form October 2016. That was the best move I have seen on forex so far.
1
  • Post #5
  • Quote
  • May 18, 2017 2:53pm May 18, 2017 2:53pm
  •  skillz16
  • Joined Mar 2015 | Status: Member | 108 Comments
JEEZ! How lazy can the get? Read a news feed! Why the USD Strengthened (chronological order):

1.)
Causing USD to tighten:
"The inflation trade has been retreating this year but this afternoon's strong demand on TIPS suggests that some investors are not calling it quits."
*there was also a REALLY high print for US data this morning. People were waiting from Draghi to be done to do anything I personally think...

this is causing EUR to loosen:
DJ Choppy Markets Underscore Why ECB Will Take It Slow -- Heard on the Street 2017.05.18 20:20:081


2.) 1:01PM CST

Cleveland Federal Reserve Bank President Loretta Mester on Thursday repeated her call for further U.S.-interest rate hikes now that the economy has reached full employment and inflation is nearing the Fed’s 2-percent goal.


3.) Strong TIPS Auction -- MarketTalk at 1:34PM CST


4.)
Im pretty sure the decline in federal-funds futures is in response to things the Fed doesnt care about, said Thomas Simons, an economist at Jefferies.
I dont think they are concerned with a general dysfunction in Washington, he said.


LAZY! Haha...
  • Post #6
  • Quote
  • May 18, 2017 2:58pm May 18, 2017 2:58pm
  •  Josh657
  • | Joined May 2017 | Status: Member | 86 Comments
Quoting jurek
Disliked
This is nothing compared to the move form October 2016. That was the best move I have seen on forex so far.
Ignored
dont you mean june?
  • Post #7
  • Quote
  • May 18, 2017 3:32pm May 18, 2017 3:32pm
  •  clockwork71
  • | Commercial Member | Joined May 2007 | 1,114 Comments
Quoting skillz16
Disliked
JEEZ! How lazy can the get? Read a news feed! Why the USD Strengthened (chronological order): 1.) Causing USD to tighten: "The inflation trade has been retreating this year but this afternoon's strong demand on TIPS suggests that some investors are not calling it quits." *there was also a REALLY high print for US data this morning. People were waiting from Draghi to be done to do anything I personally think... this is causing EUR to loosen: DJ Choppy Markets Underscore Why ECB Will Take It Slow -- Heard on the Street 2017.05.18 20:20:081...
Ignored
NONE of that explains a 100 pip move in a min or two. Also, if this were true, the USD would have done the same against other currencies.

Lazy
  • Post #8
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  • Edited at 4:14pm May 18, 2017 3:38pm | Edited at 4:14pm
  •  T2RGette
  • | Joined Dec 2015 | Status: Member | 2 Comments
who cares, I took advantage of that drop when I saw the flag form and a bearish engulfing pattern. There's been movement on the gbp (a little finicky, but it was there), that's why it's important to truly understand technical analysis.
  • Post #9
  • Quote
  • May 18, 2017 3:54pm May 18, 2017 3:54pm
  •  skillz16
  • Joined Mar 2015 | Status: Member | 108 Comments
Quoting clockwork71
Disliked
{quote} NONE of that explains a 100 pip move in a min or two. Also, if this were true, the USD would have done the same against other currencies. Lazy
Ignored
See what you are saying. EURUSD went down also but was not a "flash crash." That news all came out though and the MM's probably just cleared out their standing orders and it fell. Simple right?
  • Post #10
  • Quote
  • May 18, 2017 4:05pm May 18, 2017 4:05pm
  •  jurek
  • | Joined Aug 2016 | Status: Member | 68 Comments
Quoting Josh657
Disliked
{quote} dont you mean june?
Ignored
No I do not mean brexit vote. October flash crash that happened in 1min. Check it on the charts.
  • Post #11
  • Quote
  • May 18, 2017 4:20pm May 18, 2017 4:20pm
  •  Ill-b-back
  • Joined May 2011 | Status: Get to the Chopper | 3,897 Comments
It's ok gentlemen, carry on

lol...
Attached Images (click to enlarge)
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Name: GBPUSDWeekly.png
Size: 25 KB
  • Post #12
  • Quote
  • May 18, 2017 4:27pm May 18, 2017 4:27pm
  •  glenngie
  • | Joined Nov 2009 | Status: Member | 1,283 Comments
My $99 Expert Advisor started trading 10,000 lots.
  • Post #13
  • Quote
  • May 18, 2017 9:21pm May 18, 2017 9:21pm
  •  CoolJL
  • | Joined May 2011 | Status: Member | 799 Comments
Chart manipulation. Most likely Central bank didn't want it going above 1.3 so put in a big bearish candle in 4hr chart.
  • Post #14
  • Quote
  • May 19, 2017 12:59am May 19, 2017 12:59am
  •  Mingary
  • Joined Mar 2011 | Status: I should be on your ignore list | 2,014 Comments
Traders mystified
Translation
Traders lost money

.. after all, trend seems to have turned up, therefore buy buy buy
but the herd lose, lose, lose
The market will always move in the direction that causes the greatest financial damage to the largest number of accounts.
  •  Guest
  • | IP X.XXX.108.188
Join FF
  • Story Stats
  • Posted: May 18, 2017 2:13pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 14  /  Views: 5,988
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